ACIIA MEMBERS DIRECTORY 2014
Association of Certified International Investment Analysts ACIIA 1
Chairman’s Message...................................................................................................................................................4 ACIIA...........................................................................................................................................................................5 Association of Certified International Investment Analysts ACIIA® ASIAN FEDERATION .................................................................................................................................................6 Asian Securities and Investments Federation ASIF EUROPEAN FEDERATION ........................................................................................................................................7 European Federation of Financial Analysts Societies EFFAS ALGERIA.....................................................................................................................................................................8 Association Professionnelle des Banques et des Etablissements Financiers ABEF ARGENTINA ...............................................................................................................................................................9 Instituto Argentino de Ejecutivos de Finanzas IAEF AUSTRIA...................................................................................................................................................................10 Oesterreichische Vereinigung für Finanzanalyse und Asset Management OVFA BRAZIL......................................................................................................................................................................12 Association of Capital Market Analysts and Investment Professionals APIMEC CHINA.......................................................................................................................................................................13 Securities Association of China SAC CHINESE TAIPEI......................................................................................................................................................14 Securities Analysts Association, Chinese Taipei SAA CT FINLAND...................................................................................................................................................................15 The Finnish Society of Financial Analysts FSFA FRANCE ...................................................................................................................................................................16 Société Française des Analystes Financiers SFAF GERMANY ................................................................................................................................................................17 Deutsche Vereinigung für Finanzanalyse und Asset Management DVFA GREECE ...................................................................................................................................................................18 Hellenic Association of Certified Stockmarket Analysts HACSA HONG KONG............................................................................................................................................................19 Hong Kong Securities and Investment Institute HKSI HUNGARY ................................................................................................................................................................20 Hungarian Capital Market Professionals’ Society HCMPS INDIA ........................................................................................................................................................................21 Association of International Wealth Management of India AIWMI ITALY ........................................................................................................................................................................22 Associazione Italiana Analisti Finanziari AIAF JAPAN.......................................................................................................................................................................23 The Securities Analysts Association of Japan SAAJ KENYA......................................................................................................................................................................24 Institute of Certified Securities and Investments Analyst ICSIA KOREA......................................................................................................................................................................25 The Korea Certified Investment Analysts Association KCIAA LITHUANIA ...............................................................................................................................................................26 Financial Analysts Association FAA MEXICO....................................................................................................................................................................27 Instituto Mexicano de Analistas, Asesores y Administradores del Mercado Financiero, A. C. IMA3 2
MOROCCO ...............................................................................................................................................................28 Société Marocaine des Analystes Financiers SMAF NETHERLANDS .......................................................................................................................................................29 VBA beleggingsprofessionals NIGERIA ...................................................................................................................................................................30 Chartered Institute of Stockbrokers CIS PERU ........................................................................................................................................................................31 Asociacion Peruana de Finanzas APEF POLAND ...................................................................................................................................................................32 Polish Association of Brokers and Investment Advisers PABIA PORTUGAL ..............................................................................................................................................................33 Associação Portuguesa de Analistas Financeiros APAF ROMANIA .................................................................................................................................................................34 Romanian Association of Financial – Banking Analysts AAFBR RUSSIA.....................................................................................................................................................................35 Guild of Investment and Financial Analysts GIFA SPAIN .......................................................................................................................................................................36 Instituto Español de Analistas Financieros IEAF SWEDEN ..................................................................................................................................................................37 Sveriges Finansanalytikers Förening SFF SWITZERLAND ........................................................................................................................................................38 Swiss Financial Analysts Association SFAA TUNISIA....................................................................................................................................................................39 Tunisian Association of Financial Analysts ATAF UKRAINE ..................................................................................................................................................................40 Ukrainian Society of Financial Analysts USFA UNITED KINGDOM...................................................................................................................................................41 Chartered Institute for Securities & Investment CISI VIETNAM ..................................................................................................................................................................42 Securities Research and Training Center SRTC
3
Chairman’s Message Respecting different cultures and languages, reflecting the local content in professional qualifications and preserving the independence of member societies worldwide are the main drivers of ACIIA.
ACIIA membership has grown to thirty-eight associations worldwide, all of whom are participating in or preparing for the Certified International Investment Analyst (CIIA®) diploma. The members are spread throughout Africa, Central and South America, Asia, Europe and the Middle East, and encompass a wide variety of languages, cultures, and business customs. While some member associations have a long history of representing the investment profession and administering qualification programs, others have only evolved in the last few years and are implementing a training program at an international level for the first time.
Whatever their size, whatever their history, all ACIIA members are committed to working toward a higher level of quality and international relevance for the training of investment professionals combined with a common level of ethical behaviour. The CIIA® program which enhances not only the competence, but also professional conduct in terms of ethics which are required by practitioners and professionals playing an important role in the world, is recognised as the most advanced and sophisticated program in the financial and investment industry. These are the motivating factors driving the CIIA®. Everyone involved wants to improve the quality of their professional designations and we are convinced that it is best achieved by working together as an international partnership. I am very pleased to present herewith the ACIIA directory – it gives an overview and information about each member association. Not only does it show the variety of our members, but also the strength of them all. Of course, one single page cannot cover all the work that they do. Some of them have, in addition to CIIA®, other education programs, own companies, or have a broad range of affiliations and activities. It certainly is a rich diversity of associations who shape the ACIIA of 2014. . Yours sincerely
Lyn Yixiang ACIIA Chairman
4
ACIIA
Association of Certified International Investment Analysts ACIIA® Name
Association of Certified International Investment Analysts ACIIA
Address
Operational Head Office Mainzer Landstraße 47a - DE 60329 Frankfurt am Main Phone: +49 69 26 4848 300 Fax: +49 69 26 4848 335 Email: info@aciia.org
Contact
Ms Laura Compte, ACIIA Head Office, Email: laura.compte@aciia.org
Website
www.aciia.org
Established
2000
Council
Chairman: Dr. Lin Yixiang, SAC China Deputy Chairman: Dr López Zaballos, IEAF Spain Mr. Stefan Bielmeier, DVFA Germany Mr Hans Buysse, EFFAS Europe Mr Jean Baptiste Bellon, SFAF France Ms Edith Ngan Chan, HKSI Hong Kong Mr Kim Sundae, KCIAA Korea Dr Yasuhiro Maehara, SAAJ Japan Dr Jean-Claude Dufournet, SFAA Switzerland
Organisational Structure
ACIIA is an international partnership of 36 national and regional associations and 2 federations ASIF Asia and EFFAS Europe representing over 100,000 financial analysts, portfolio managers and other investment professionals worldwide.
Role and Objectives
ACIIA International Examinations Committee
To provide the Certified International Investment Analyst CIIA® designation; an advanced, internationally recognised qualification which examines candidates in the global and local topic areas necessary to pursue a career in the investment profession To support and promote the interests of the investment community To promote ethical behaviour in the industry To encourage and provide a forum for the creation and interchange of ideas and information in the finance and investment field
Chairman: Professor Michael Theobald, University of Birmingham, United Kingdom Professor Raimond Maurer, Goethe University, Frankfurt, Germany Professor Takao Kobayashi, Aoyama Gakuin University, Japan Sian Lloyd, Senior Advisor, Chartered Institute for Securities & Investment, Great Britain Professor Robert Jarrow, Cornell University, USA Dr. Wakah, Senior Deputy Director, Centre for Parliamentary Studies and Training, Kenya Dr. Janos Szaz, President of the Hungarian Society, EFFAS
5
ASIAN FEDERATION
Asian Securities and Investments Federation ASIF Name
Asian Securities and Investments Federation ASIF
Address
C / The Securities Analysts Association of Japan 5th Floor, Tokyo Stock Exchange Building 2-1 Nihonbashi-Kabutocho Chuo-Ku Tokyo 103-0026 Japan Tel. +81 336 661 576 Fax +81 336 665 843 Email: asif-manager@saa.or.jp
Contact
Mr Kazumichi Karita, ASIF Manager Email: asif-manager@saa.or.jp
Website
www.asif.org.au
Chairman
Dr. Yasuhiro Maehara, The Securities Analysts Association of Japan
About ASIF
ASIF (formerly known as ASAF) was formed in 1995 as an incorporated association in NSW, Australia succeeding the Asian Securities Analysts Council (ASAC) originally established in 1979, with the aims to promote the interests of the investment community of Asia and Oceania, to encourage and assist the development of the profession of securities analysts through the interchange of ideas and coordination of policy among member societies.
ASIF Members Full members: *also member of Australia: Financial Services Institute of Australasia FINSIA ACIIA China: Securities Association of China SAAC Chinese Taipei: Securities Analysts Association, Chinese Taipei SAA, CT* Hong Kong: Hong Kong Securities and Investment Institute HKSI* Japan: The Securities Analysts Association of Japan SAAJ* Korea: The Korea Certified Investment Analysts Association KCIAA* Thailand: Investment Analysts Association in Thailand IAA Thailand Associate members: India: IBS Hyderabad IFHE
6
EUROPEAN FEDERATION European Federation of Financial Analysts Societies EFFAS Name
European Federation of Financial Analysts Societies EFFAS
Address
Mainzer Landstrasse 47a DE 60329 Frankfurt am Main Germany Tel. +49 69 26 4848 300 Fax +49 69 26 4848 335 Email: laura.compte@effas.com
Contact
Mrs Laura Compte, EFFAS Head Office
Website
www.effas.com
Chairman
Dr Jesús López Zaballos Instituto Español de Analistas Financieros IEAF
About EFFAS
Founded in 1962, EFFAS is the federation representing various nationally based societies of investment professionals in Europe. EFFAS aims to set the standards for investment professionals in the fields of communications, ethics, and qualifications, to actively bring its influence to bear on relevant European guidelines, and to recognise and respect regional market characteristics.
Email: laura.compte@effas.com
EFFAS Members Austria: Österreichische Vereinigung für Finanzanalyse und Asset Management* ÖVFA *also member of Belgium: Association Belge des Analystes Financiers* ABAF Belgische Vereniging van Financiële Analisten BVFA ACIIA Bosnia: Društvozatržišnestudije DTS Society for Market Studies SMS Bulgaria: Bulgarian Investment Managers Association BIMA Croatia: Hrvatska udruga financijskih analitičara HUFA Finland: Suomen Sijoitusanalyytikot ry* FSFA France: Société Française des Analystes Financiers* SFAF Germany: Deutsche Vereinigung für Finanzanalyse und Asset Management* DVFA Great Britain: Chartered Institute for Securities and Investment* CISI Greece: Hellenic Association of Certified Stockmarket Analysts* HACSA Hungary: Magyar Tőkepiaci Szakemberek Egyesületének* HCMPS Italy: Asociazione Italiana degli Analisti Finanziari* AIAF Kazakhstan: Financial Institutions' Association of Kazakhstan* FIAK Latvia: Latvian Association of Securities Markets Professional LASMP Lithuania: Lithuanian Association of Financial Analysts* FAA Netherlands: Vereniging van Beleggingsanalisten* VBA Norway: Norske Finansanalytikeres Forening NFF Poland: Polish Association of Brokers and Investment Advisers* PABIA Portugal: Associação Portuguesa de Analistas Financeiros* APAF Romania: Romanian Association of Financial Banking Analysts* AAFBR Russia: Guild of Investment and Financial Analysts* GIFA Serbia: Association of Financial Analysts of Serbia UFAS Spain: Instituto Español de Analistas Financieros* IEAF Sweden: Sveriges Finansanalytikers Förening* SFF Turkey: Sermaye Piyasasi Profesyonelleri (SPP) Ukraine: Ukrainian Society of Financial Analysts* USFA
7
ALGERIA
Association Professionnelle des Banques et des Etablissements Financiers ABEF Name Address
Association Professionnelle des Banques et des Etablissements Financiers ABEF 3 Chemin Romain val d'hydra El biar Alger Algeria Tel: +213 21 91 55 77 Fax: +213 21 91 56 08 Email contact@abef-dz.org
Contact
Abderrezak Trabelsi Email: a.trabelsi@abef-dz.org Mouatassem Boudiaf Email : m.boudiaf@abef-dz.org
Website
www.abef-dz.org
Established
1994
Chairman
Abderrezak Trabelsi (Chairman) Mouatassem Boudiaf (General delegate)
Organisational Structure
Major Activities
The Shareholders meeting The Board The General Delegation The Standing Committees The Technical Committees
ABEF is a thinking place for solving issues brought about by its members and propose solutions often involving the amendment (or promulgation) of laws and the establishment of a new financial procedures. ABEF is also providing technical hosting for the banking center.
8
ARGENTINA
Instituto Argentino de Ejecutivos de Finanzas IAEF Name
Instituto Argentino de Ejecutivos de Finanzas IAEF
Address
Tucumรกn 612, 4th floor C1049AAN Buenos Aires Argentina Tel. +54 11 43 22 62 22 Fax +54 11 43 22 47 10 Email: webmaster@iaef.org.ar
Contact
ACIIA: Mr Douglas Elespe CIIA Committee President Email: douglas.elespe@tfn.com.ar
Website
www.iaef.org.ar
Established
1967
Chairman
Mr Guillermo Rimoldi
Organisational Structure
IAEF is a non-profit professional association integrating over 900 directors and managers from leading companies in Argentina. Its members are active in the areas of administration, finance, planning, control, treasury, accounting, purchases, logistics and information technology.
Major Activities
IAEF is a research centre for the information and qualification of executives in all disciplines of modern management. The IAEF develops a great number of training activities related to economics, finance, and business management through courses, seminars, conferences, local congresses, national and international conventions and study trips to other countries. IAEF has its own Financial & Economic Research Department, which apart from carrying out pure and applied research on economics, issues a monthly report that serves as a reference source for professionals, students and the financial and economic press. IAEF has also published many technical works based on the studies performed by its Research & Investigation Committee and has been publishing its monthly magazine Ejecutivos de Finanzas for 45 years.
CIIA in Argentina
The CIIA training course is offered by the IAEF in cooperation with the Spanish ACIIA member, IEAF Spain. The course runs annually from March to December and consists of 400 hours of classroom lessons.
CIIA: Mr Oscar Mazza IAEF Managing Director Email: oscarmazza@iaef.org.ar Mr Guillermo Sidoti International Financial Certifications Manager Email: guillermosidoti@iaef.org.ar
Email: grimoldi@georgalos.com.ar
9
AUSTRIA
Oesterreichische Vereinigung für Finanzanalyse und Asset Management OVFA Name
Oesterreichische Vereinigung für Finanzanalyse und Asset Management OVFA
Address
Esslinggasse 17/5 A-1010 Wien Austria Tel. +43 1 533 50 50 Fax +43 1 533 50 50 33 Email: office@ovfa.at
Contact
ACIIA: Mr Otto Lucius OVFA Secretary General Email: office@ovfa.at
Website
www.ovfa.at
Established
1973
Chairman
Mr Friedrich Mostböck
Organisational Structure
OVFA currently has almost 300 members, all investment professionals such as sell-side and buy-side analysts, portfolio managers, financial communication managers, M&A specialists and some dozen corporate members.
Objectives and Major Activities
OVFA supports and promotes the professions of financial analysis and investment management through: the organisation of financial information events in cooperation with listed companies the provision of high quality vocational training the representation of the profession vis-à-vis the authorities and the media the production of quality publications relevant to the profession
CIIA in Austria
Training for the CIIA is organised by a special training centre, the BankAkademie run by BWG – the Austrian Society for Bank Research. The course is divided into three periods over 12 months, with the first two parts covering the national part as well as the content of the CIIA Final Exam 1 and the third period covering the contents of CIIA Final Exam 2. The whole course comprises 43 days of vocational training in addition to intense home study.
CIIA: Mrs Dagmar Gabriel OVFA Training Centre Manageress Email: office@ovfa.at
10
BELGIUM
Association Belge des Analystes Financiers ABAF Belgische Vereniging van Financiële Analisten BVFA Name
Association Belge des Analystes Financiers ABAF Belgische Vereniging van Financiële Analisten BVFA
Address
Aarlenstraat – Rue d’Arlon 80 1040 Brussels Belgium Tel. +32 (0)2 507 6967 (Ms Véronique Gernay) Fax +32 (0)2 507 6969 Email: info@abaf-bvfa.be
Contact
ACIIA: Mr Hans Buysse ABAF-BVFA President Email: hbuysse@telenet.be
Website
www.abaf-bvfa.be
Established
1959
Chairman
Mr Luc Vanderelst
Organisational Structure
ABAF-BVFA gathers 298 members professionally focused on financial analysis. It is the centre of excellence for the financial analyst community in Belgium. It improves quality, adequacy and correctness of financial information provided to investors. It frameworks and guards the ethical behaviour of its members. It builds a common knowledge base on financial analysis for all persons linked to financial markets, corporate finance, bond markets, portfolio management, credit analysis and auditing.
Major Activities
The four cornerstones of ABAF-BVFA’s activities are: Company information meetings for analysts, Courses for the financial community (asset - treasury management and tax), Building a home base for an international financial community, Competitions for Best Financial Information, Seminars, Corporate Governance Every year, the association organises the Awards for Best Financial Information. In 2011, the Belgian Association of Financial Analysts has been celebrating its 51st Award for the Best Financial Information. The award aims to reward the Belgian listed companies that stand out in terms of communication with the financial community.
CIIA in Belgium
The CIIA training course is organized by ABAF-BVFA in collaboration with the Vlerick Leuven Gent Management School and is combining a full academic title with the CIIA professional designation. Short Term Crash courses are organised in collaboration with the Belgian Bankers Association (Febelfin Academy) and with other Universities in Belgium. The association also organises a 24 day Certificate in Risk Management Program.
CIIA: Mr Luc Keuleneer ABAF-BVFA Secretary General Email: lkeuleneer@kpmg.com
11
BRAZIL
Association of Capital Market Analysts and Investment Professionals APIMEC Name
Associação dos Analistas e Profissionais de Investimento do Mercado de Capitais APIMEC
Address
Rua Maestro Cardim, 1170 – conj. 102 São Paulo, SP 01323-001, Brazil Tel. +55 11 3107-6646 / 3107-7396 / 3106-6023 Fax +55 11 3242-7842 Email: apimec@apimec.com.br
Contact
ACIIA: Mr. Reginaldo Ferreira Alexandre APIMEC President Email: apimec@apimec.com.br
Website
www.apimec.com.br
Established
1988
Chairman
Mr Reginaldo Ferreira Alexandre
Organisational Structure
APIMEC NACIONAL was established in June 1988, with the purpose to integrate the Regional APIMECs: São Paulo, Rio de Janeiro, Minas Gerais, Northeast, South and Brasília, comprising about 2,000 members’ altogether. It is the self-regulator of Brazilian investment analysts and focuses its activities on the certification and supervision of professionals, institutional representation vis-à-vis government and market entities, and international interchanges with other analysts’ societies throughout the world.
Major Activities
APIMEC promotes bi-annually its national congress and, annually, the APIMEC Awards, which distinguish professionals and companies that have outstood in the categories: analyst, public company, press, investor relations and special. The Regional chapters are engaged in meetings with companies, training, courses, seminars, etc.
CIIA in Brazil
APIMEC has the responsibility to set rules related to the implementation of the certification program aimed at the achievement of the CNPI - Certificado Nacional do Profissional de Investimentos (national certification) and the CIIA - Certified International Investment Analyst. While APIMEC was already accredited as the certification entity under the Brazilian Securities Commission, as of October 2010, APIMEC assumed the position of self-regulator by delegation. The focus of APIMEC´s self-regulatory activity will be the guarantee of independence of opinion, transparency in situations of conflict of interest and symmetrical access to information. It should be noted that APIMEC has already launched its PEC (Continued Education Program), thus ensuring that all accredited analysts are permanently qualified to exercise their function. Since September 2008 the Local Content and the Foundation examinations have been applied online by the Getúlio Vargas Foundation in more than 60 test centres throughout the country.
12
CIIA: Mr Gerson Mineo Sakaguti APIMEC Certification Superintendent Email: gerson.sakaguti@apimec.com.br
CHINA Securities Association of China SAC Name
Securities Association of China SAC
Address
2/F Building B, Focus Plaza 19 Jinrong Street, Xicheng District Beijing 100032, P.R. China Tel. +86 10 66 575 937 Fax +86 10 66 575 989 Email: icd@sac.net.cn
Contact
ACIIA: Mr. Ma Jing (Mark) SAC International Cooperation Department Email: majing@sac.net.cn
Website
www.sac.net.cn
Established
August 28, 1991
Chairman
Mr Chen Gongyan
Organisational Structure
SAC is a self-regulatory organization representing the securities industry. By December 2013, SAC had 727 members in total, including securities companies, securities investment consulting companies and other securities related bodies. The objectives of the SAC are as follows:  Assume the role of self-regulator of securities industry under the centralized supervision and administration of the government;  Function as a bridge between the government and the securities industry;  Provide services to and safeguard the lawful rights and interests of its members
CIIA: Mr. Ma Jing (Mark) SAC International Cooperation Department Email: majing@sac.net.cn
Ensure orderly market competition, promote an open, fair and just securities market, protect the lawful rights and interests of investors, and facilitate the healthy and stable development of the securities market.
Major Activities
Educate and organize its members to act in compliance with securities laws and administrative regulations. Lawfully safeguard the legitimate rights and interests of its members, and keep CSRC informed of the suggestions and requirements of the members. Collect and process information on securities and render services to its members. Formulate rules applicable to and binding on its members, organize trainings for practitioners, and promote the business communication among the members. Mediate the disputes over securities businesses arising between its members, or between its members and their clients. To organize its members to research into the development and operation of, and such other issues as related to the securities industry. Supervise and inspect the activities of its members, and in accordance with pertinent provisions, impose disciplinary sanctions on any member who is in violation of any laws, administrative regulations or the Articles of Association.
CIIA in China
SAC is responsible for the training and management of the CIIA candidates in China. The first courses began in 2006.
13
CHINESE TAIPEI
Securities Analysts Association, Chinese Taipei SAA CT Name
Securities Analysts Association, Chinese Taipei SAA CT
Address
10F, No.7, Sec.5, Xinyi Rd.,Taipei, Taiwan 11049 Tel. +886 2 8101 2076 Fax +886 2 8101 3744 Email service@tsaa.org.tw
Contact
ACIIA: Ms Mina Wang Deputy Secretary General, SAA CT Email: mina@twse.com.tw Mr Alex Liu Email: 1026@twse.com.tw
CIIA: Ms Lisa Chen Deputy Director, Securities & Futures Institute Email: lisa@sfi.org.tw Mr David Hsin Specialist, Securities & Futures Institute Email: davidh@sfi.org.tw
Website
www.tsaa.org.tw
Established
1984
Chairman
Mr Yung-San Lee
Organisational Structure
SAA CT is a government approved organisation and has attained a prominent status in Taiwan’s financial community. Its main objective is to foster the excellence of securities analysts and promote securities investment.
Major Activities
To make concrete contributions to the development of the economy, SAA CT holds regular seminars, workshops, educational courses and related activities, and introducing significant experiences, especially with respect to liberalisation and internationalisation, of foreign capital markets which have served as reference points for the securities market and the government to make new policies. The Association has successfully disseminated understanding of Taiwan’s economic situation and investment opportunities worldwide via continuous communications and by inviting foreign experts from wellknown investment organisations to visit Taiwan.
CIIA in Chinese Taipei
The CIIA exam commenced in 2005 and is organised by SAA CT in cooperation with the Securities and Futures Institute (SFI). The CIIA final exam has been held 16 times since then, 19 candidates have passed the CIIA final exam and received the CIIA designation.
14
FINLAND
The Finnish Society of Financial Analysts FSFA Name
The Finnish Society of Financial Analysts FSFA
Address
Ripusuonpolku 5 00660 Helsinki, Finland Tel. +358 405 805 337 Fax +358 204 293 760 Email sihteeri@sijoitusanalyytikot.fi
Contact
ACIIA: Mr Ville Koskinen ville.koskinen@s-pankki.fi
CIIA: Mr Ville Koskinen ville.koskinen@s-pankki.fi
ACIIA: Mr Lasse Huopalainen Email: lasse.huopalainen@hanken.fi
CIIA: Mr Lasse Huopalainen Email: lasse.huopalainen@hanken.fi
Website
www.sijoitusanalyytikot.fi
Established
1989
Chairman
Mr Ville Koskinen
Organisational Structure
FSFA is a non-profit organisation for investment professionals in Finland and a member of EFFAS. The society has over 300 members, who work as financial analysts, fund managers or in similar positions.
Major Activities
The association has arranged an annual CEFA course in Finland since 1994. As of 2008, after the society becoming a member of ACIIA, a CIIA training course is also provided as an enlarged and combined CEFA / CIIA course. The association gives statements and opinions on matters regarding investment research and securities markets to Finnish financial authorities, e.g. when new laws and standards are being drafted and revised. The association also arranges seminars and company presentations for investment professionals, and social events for its members.
CIIA in Finland
The CIIA foundation level course (CEFA / CIIA) is organised every year, running from September to May. Before the CIIA Final exams, there are additional preparatory evenings. The CEFA / CIIA course has maximum 30 participants per year. The training partner for the courses is Hanken School of Economics in Helsinki. The first annual CIIA course was started in September 2008, preparing Finnish investment professionals for the international CIIA final exams. The first CIIA final exams were arranged in spring 2009. Over the years, over 300 professionals in Finland have completed the CEFA course and received the CEFA diploma. In the next few years they are also a relevant target group for the CIIA final exams.
15
FRANCE
Société Française des Analystes Financiers SFAF Name
Société Française des Analystes Financiers SFAF
Address
24 Rue de Penthièvre F-75008 Paris France Tel. +33 1 56 4343 10 Fax +33 1 56 4343 18 Email: sfaf@sfaf.com
Contact
Mr Jean-Baptiste Bellon Deputy Chairman, SFAF Representative in ACIIA, EFFAS and ILPIP Email: jbbellon@sfaf.com
Website
www.sfaf.com
Established
1961
Chairwoman
Ms Marie Pierre Peillon Email: president@sfaf.com
Organisational Structure
SFAF is a non-profit organisation which currently gathers more than 1 600 members, all investment professionals such as sell-side and buy-side analysts, portfolio managers, M&A specialists, and financial communication managers.
Objectives and Major Activities
The objectives of the SFAF activities are to support and promote the professions of financial analysis and investment management through:
CIIA in France
the organisation of financial information events in cooperation with listed companies the provision of high quality vocational training the representation of the professions vis-à-vis the authorities and the media the production of quality publications relevant to the profession
Training for the CIIA is organised by CFAF, SFAF’s training centre, which was established in 1967. The CFAF course was modified in 2003 to prepare candidates for the Final examination of the CIIA. The CIIA course is divided into three periods over 18 months. The first and third periods (149 hours and 118 hours of courses respectively) make up the CIIA international programmes. Formal teaching for these two periods starts at the end of September and finishes in February. The second period devoted to the specifically French content of the CIIA programme (36 hours of courses) starts at the end of April and is tested by an examination taken in June.
16
GERMANY Deutsche Vereinigung für Finanzanalyse und Asset Management DVFA Name
Deutsche Vereinigung für Finanzanalyse und Asset Management DVFA
Address
Mainzer Landstrasse 47a DE 60329 Frankfurt am Main Tel. +49 (0) 69 26 4848 – 121 Fax +49 (0) 69 26 4848 - 488 Email: finanzakademie@dvfa.de
Contact
Ulf Mayer, CEFA Head of Training School Email: ulf.mayer@dvfa.de
Website
www.dvfa.de
Established
1960
Chairman
Mr Stefan Bielmeier, Chief Economist & Head of Research at DZ Bank AG Email: stefan.bielmeier@dvfa.de
Organisational Structure
DVFA is the largest society of investment professionals in Germany. Currently, DVFA has more than 1,300 individual members representing over 400 investment firms, banks, asset managers, consultants and counselling businesses.
Major Activities
DVFA was founded more than 50 years ago as a professional association of mainly financial analysts. While later it opened up for asset managers as well, today, DVFA represents a much wider variety of investment professionals. DVFA’s 1,300 members predominantly work in the area of investment decision making and investment advisory creating, managing, evaluating and monitoring financial and investment products analysis of credit and financial risks
CIIA in Germany
In 2003, the CIIA courses replaced the well-known CEFA post-graduate training programme. The course combines intensive classroom teaching of 28 days (of 8 hours each) spread over three levels in 7 months, with a self-study component based on comprehensive manuals. The courses start twice a year in March and September. The examination dates are also offered twice a year, therefore giving the March candidates the possibility to retake the exams in September, and vice versa. After the first and the second level of the course, the National and Foundation exams take place (overall 3 examination days). For a dedicated preparation of candidates for the final exam, an extra course of 3.5 days is offered. In all exams, candidates have the choice to take the exams either in German or English.
17
GREECE
Hellenic Association of Certified Stockmarket Analysts HACSA Name
Hellenic Association of Certified Stockmarket Analysts HACSA
Address
P.O. Box 3177 Central Post Office 10210 Athens Greece Mob. +30 6931 098640 Email: hacsagr@yahoo.com and hacsagr@gmail.com
Contact
ACIIA: Dr Konstantinos Vergos Member of the Board Email: hacsagr@yahoo.gr Email: hacsagr@gmail.com
Website
www.hacsa.gr
Established
2002
Chairman
Mr Panagiotis Alexopoulos Email: hacsagr@yahoo.gr
Organisational Structure
HACSA is a not-for-profit association that aims to safeguard the interests of professional analysts in Greece. HACSA is a member of EFFAS, and has a professional Code of Ethics since 2003. The association has currently more than 100 members, accounting for more than 60% of certified analysts in the Greek capital markets.
Membership requirements
Full members of HACSA can be certified analysts (certified by the Hellenic Capital Market Commission / Bank of Greece, holders of CIIA or holders of CEFA) and certified portfolio managers (certified by the Hellenic Capital Market Commission / Bank of Greece). Non full members can be non-certified analysts holding degree / masters / PhD in economics/finance plus two years professional experience as analysts or Certified Investment Advisors (certified by the Hellenic Capital Market Commission / Bank of Greece).
CIIA in Greece
CIIA training was established in 2005 and has been organized by HACSA in collaboration with a company specialized in professional training. From 2009 full time training has been organized in cooperation with Athens University of Economics and Business and with National and Kapodistrian University of Athens. Distance learning training may be organized in cooperation with University of Aegean or Athens University. CIIA is recognized in Greece by regulatory authorities. Since 2006 CIIA holders are exempt (by the Hellenic Capital Market Commission / Bank of Greece) from exams for the financial analysts, portfolio managers and investment advisors profession.
18
HONG KONG
Hong Kong Securities and Investment Institute HKSI Name
Hong Kong Securities and Investment Institute HKSI
Address
24th Floor, Wing On Centre 111 Connaught Road Central, Hong Kong Tel. +852 3120 6100 Fax +852 2899 2611 E-mail: info@hksi.org
Contact
Ms Ruth Kung Executive Director, Professional Education Department Email: ruthkung@hksi.org
Website
www.hksi.org
Established
1997
Chairman
Mr Craig Lindsay Email: chairman@hksi.org
Organisational Structure
The HKSI is a professional membership organisation with individual and corporate members from different sectors of the finance industry. The board, with the support from various committees, helps guide the direction of service offerings.
Major Activities
The HKSI champions professional excellence in financial services industry in Hong Kong through providing examinations and qualificaitons, professional development programme, membership and services to qualified applicants.
CIIA in Hong Kong
Finance practitioners need to be licensed by the Securities and Futures Commisison (SFC) to conduct regulated activities in Hong Kong. For the purpose of licensing, the CIIA qualication is recognised by the SFC as an internationally recognised professional qualification under the “Guidelines on Competence�. The CIIA qualification is available as a self-study programme for professionals in Hong Kong. Training courses will be provided on demand.
19
HUNGARY Hungarian Capital Market Professionals’ Society HCMPS Name
Hungarian Capital Market Professionals’ Society HCMPS
Address
Bankárképző – Consulting and Training in banking Tárogató út 2 - 4 H-1021 Budapest Hungary Tel. +36 1 22 40 708 Fax +36 1 20 11 330 Email: info@capmarketprof.hu
Contact
ACIIA: Ms Judit Marmoly Email: jmarmoly@bankarkepzo.hu
Website
www.capmarketprof.hu
Established
1992
Chairman
Dr Prof. Janos Szaz
Organisational Structure
HCMPS is the first organisation of its type in Central and Eastern Europe. Following its foundation and registration, the Society applied for membership in EFFAS (European Federation of Financial Analyst Societies) and became member in October 1992 as the federation's 17th member and as the first organisation from the region. It became an associate member of ACIIA in 2003.
Major Activities
HCMPS’s main activities are to: Ensure professional communication among investment community professionals in Hungary and internationally Ensure high quality standards of professional ethics Play an important role in providing information and expertise in connection with the European Union membership of Hungary, primarily in the field of financial investment Organise educational and qualification programmes approved by EFFAS and ACIIA.
CIIA in Hungary
HCMPS with Bankarkepzo Consulting & Training Ltd. and Educational Foundation for Central-European Broker and Securities Market Training has organized a 3-semester course and examination based on the training and examination programme of the European Federation for Financial Analysts Societies since 1994. HCMPS has extended its training program into CIIA. The first CIIA certificate was obtained in 2010 March.
20
CIIA: Ms Judit Marmoly Email: jmarmoly@bankarkepzo.hu
INDIA
Association of International Wealth Management of India AIWMI Name Address
Association of International Wealth Management of India AIWMI Regus, Level 9, Platina, Block G, Plot C-59 Bandra-Kurla Complex Mumbai 400051 Tel: +91 809 766 1200 Contact: Neha Kaira Email ciia@aiwmindia.com
Contact
ACIIA: Mr. Aditya Gadge E-mail: aditya@aiwmindia.com Tel. +91 997 017 9721
CIIA: Ms. Neha Kaira E-mail: neha@aiwmindia.com Tel: +91 997 180 9766 1200
Website
www.aiwmindia.com
Established
2012
Chairman
Mr. Aditya Gadge
Organisational Structure
AIWMI is a not-for-profit body. The hierarchy includes CEO’s office supported by Knowledge, Operations & Marketing teams. AIWMI also has a Strategic Advisory Board (SAB) constituted by accomplished international professionals. The SAB provides strategic guidance to AIWMI. The SAB is supported by Knowledge & Marketing committees. AIWMI plans to open up Corporate Memberships within the next 2 months.
Major Activities
1. Certification Programs: AIWMI offers the following:
Certified International Investment Analyst (CIIA) Certified International Wealth Manager (CIWM) Certified Credit Research Analyst (CCRA) Qualified Family Office Professional (QFOP)
2. Events: AIWMI conducts the following events annually: Family Office Summit India Alternative Investment Summit India Wealth Briefing Asia Awards Credit Summit India AIWMI also co-organises major events in India and abroad in association with various event and media groups. 3. Research 21
ITALY
Associazione Italiana degli Analisti e Consulenti Finanziari AIAF Name
Associazione Italiana degli Analisti e Consulenti Finanziari AIAF
Address
Corso Magenta, 56 20123 Milano Italy Tel. +39 02 7202 35 00 Fax +39 02 7202 36 52 Email: info@aiaf.it
Contact
ACIIA: Mr. Paolo Balice Email: paolo.balice@aiaf.it
Website
www.aiaf.it
Established
1971
Chairman
Mr Paolo Balice
Organisational Structure
AIAF currently gathers more than 1000 members who are active investment professionals such as sell-side and buy-side analysts, portfolio managers, M&A specialists and financial communication managers.
Major Activities
The objectives of AIAF are to support and promote the professions of financial analysis and investment management through activities such as: the organisation of financial information events with listed companies the provision of high quality vocational training the representation of the professions vis-à-vis the authorities and media the production of quality publications relevant to the profession
CIIA in Italy
Training for the CIIA is organised by AIAF Formazione e Cultura srl, AFC. The CIIA course is divided into four areas: the first three last almost 6 months (234 hours of courses) and include the national programme; the fourth area, preparing to the final CIIA examinations (49 hours of courses), is carried out twice a year. Students who are not able to attend the courses in Milan are offered a “self-learning” option, with the possibility to attend a short intensive course just before each examination.
CIIA: Mr Silvio Ceretti Director of Training of AIAF Formazione e Cultura srl Email: info@aiaf.it
22
JAPAN
The Securities Analysts Association of Japan SAAJ Name
The Securities Analysts Association of Japan SAAJ
Address
5th Floor, Tokyo Stock Exchange Building 2-1, Nihonbashi-Kabutocho, Chuo-ku, Tokyo 103-0026 Japan Tel. +81 33 6 661 515 Fax +81 33 6 665 843 Email: intl@saa.or.jp
Contact
ACIIA: Ms Naoko Mori Senior Vice President Email: n-mori@saa.or.jp
Website
www.saa.or.jp
Established
1962
President & CEO
Dr Yasuhiro Maehara
Organisational Structure
SAAJ was established with the aim of developing recognized standards for investment professionals. The number of SAAJ members as of 31 January 2014 is 26,183 including 397 corporate members.
Major Activities
Major activities of the SAAJ include: Establishment and enhancement of code of ethics and standards of professional conduct and issues of various position papers and guidance to implement professional ethics Education and examination programs for investment professionals, and the award of the CMA designation to those who achieve a required level of professional competences Promotion of the CIIA exams as well as review programs to the CMA holders Education and examination programs for private banking (PB) / wealth management, and the award of four types of PB qualifications The sponsorship of programs such as conferences/seminars, classroom-style educational courses, company presentations, etc The collection, publication, and dissemination of pertinent reference materials The exchange of views and information with counterpart associations overseas
CIIA in Japan
The CIIA exam is a core element of continuing education for 25,100 CMA holders. The CMA is accredited by the ACIIA and thus CMA holders are eligible to sit for final level CIIA examinations. Since 2000, SAAJ has offered high quality self-study CIIA course materials in Japanese including a Study Guide, Summary of Main Points, Past Exam Questions/Guideline Answers, Formulae Booklet, Update File on new topics area such as IAS/IFRS, Credit Derivative and Pension Fund ALM, etc. In addition, to help CIIA candidates deepen their understanding; SAAJ offers a 5-day (total of 32 hours) review program (crash course) by academics and practitioners in December and January. The course covers seven topic areas on which CIIA exam questions are based. DVDs of all these lectures are also available. Since September 2011, SAAJ offers CIIA final examinations in both Japanese and English.
CIIA: Mr Shinji Horibe Senior Vice President Email: s-horibe@saa.or.jp
Email: y-maehara@saa.or.jp
23
KENYA
Institute of Certified Securities and Investments Analyst ICSIA Name
Institute of Certified Securities and Investments Analyst ICSIA
Address
Kasneb Towers, Hospital Road Upper Hill Nairobi, Kenya P.O. Box 48250 – 00100 Nairobi, Kenya Tel. 254 020 271 2640 / 271 2828 Email: Jonah.Aiyabei@kpc.co.ke
Contact
Emlyn Ngwiri: Administrator Tel. +254 724 937717
Website
www.icsia.co.ke
Established
The Institute was initially started in 1998 as a Professional Association for the Investment and Securities professionals who had the desire of establishing a forum where they could harness great minds in this sector. It was initially called Association of Financial Analysts (AFA). The name changed to Investments and securities Analysts (ISA) after the CFA (US) disputed the use of the initials CFA (EA) in 2003. In 2009 after a major syllabuses review, the name settled to Certified Securities and Investment Analysts(CSIA) which is examined by the Kenya Accountants and Secretaries National Examinations Board (KASNEB).
Chairman
Mr. Lazarus Kimang’a Tel: + 254 722 752 300
Organisational Structure
Chairman: Lazarus Kimang’a Vice Chairman: Dr. George Wakah Treasurer and Acting Secretary : Dr. Jonah Aiyabei Member: Catherine Theuri Member: Pius Nduatih Member: Michael Odiembo Member: Job Kihumba Member: Stephen Mathu Member: Peter Mwangi Member: Nguru Wachira
Major Activities
CIIA in Kenya
Email: emlynngwiri@yahoo.com
Developing a globally recognised certification programme for Certified Securities and Investment Analysts (CSIA) designation which is examined by KASNEB Organising meetings and seminars on a regular basis to contribute to the professional development of its members Harmonising of regional financial regulatory regimes Providing regional and global networking and placement opportunities for its members Developing standards of professional excellence and integrity for members Providing leadership in advocacy for financial and investment sectors Enhancing dialogue between key players in the financial markets Providing an environment for improved governance in financial markets
ICSIA has introduced the Certified International Investment Analysts (CIIA) examinations in Kenyan and the East African region and expects significant growth in 2014. Launch of the exams is set for September 2014
24
KOREA
The Korea Certified Investment Analysts Association KCIAA Name
The Korea Certified Investment Analysts Association KCIAA
Address
6th Fl., KOFIA Building, 45-2, Youido-Dong, Youngdeungpo-Gu Seoul 150-974, Korea Tel. +82 2 784 1865 Fax +82 2 782 3314 Email: ksaacho@hanmail.net
Contact
Mr Seok-Kie Seo KCIAA Manager Email: ksaacho@hanmail.net
Website
www.kciaa.or.kr
Established
1978
Chairman
Mr Sundae Kim E-mail: sundae@kispricing.com
Organisational Structure
KCIAA was established in 1978 with the aim of developing recognized standards for investment professionals. Its membership includes 1,590 Certified Investment Analysts (CIA designation holders) and 33 corporate members.
Major Activities
The KCIAA undertakes the following activities in order to contribute to the development of the analytical techniques and professional standards for those engaged in securities analysis and portfolio management: Contribute to the development of the capital market through the advancement and spread of analytical skills Provide investors with reliable and objective information Improve the qualifications and professional competence of analysts Protect the rights and interests of analysts
CIIA in Korea
Those with the Korean CIA designation can directly sit for the Final Examination of the CIIA Program because the CIA examination program which is administered by the Korea Financial Investments Association (KOFIA) has been accredited by the ACIIA. KCIAA has implemented continuous education programs for CIA holders to help them prepare for the CIIA final level examinations. To date 75 CIA designation holders of the KCIAA have obtained the CIIA diploma.
25
LITHUANIA
Financial Analysts Association FAA Name
Finansų Analitikų Asociacija FAA
Address
Strata, A.Gostauto 40A LT-01112 Vilnius Lithuania Tel. +370 686 816 43 or +370 615 390 70 Fax +370 249 7078 Email: info@finansai.lt
Contact
ACIIA: Mr Eladijus Kirijanovas or Mindaugas CIIA: Ms Karolina Krisciukaityte Vaiciulis Email: karolinakris@gmail.com Email: president@faa.lt or mvaiciulis@lb.lt
Website
www.faa.lt
Established
1999
Chairman
Mr Eladijus Kirijanovas Email: president@faa.lt
Organisational Structure
FAA was founded in January 1999 as a non-profit organization, most of members are engaged in the decision making processes in the field of finance, investment management and research. The membership list varies from financial analysts to CFO's and senior and middle managers in financial institutions and private companies.
Major Activities
FAA’s mission is to contribute to the development of finance and investment market in Lithuania and to advocate professional excellence, ethical and high quality professional service, continuous professional and personal development of finance and investment specialists in Lithuania. FAA also aims to become an active participant of Lithuanian economic and financial life expressing its point of view on the important matters of economy, arranging open and indepth discussions on the important topics as well as presenting proposals to State institutions regarding draft legal acts and other projects.
CIIA in Lithuania
Financial Analysts Association started CIIA examinations in Lithuania in 2010. Promotion of CIIA designation in Lithuania was started in 2009 and it was activated with pilot CIIA scholarship tender in 2012.
26
MEXICO Instituto Mexicano de Analistas, Asesores y Administradores del Mercado Financiero, A. C. IMA3 Name
Instituto Mexicano de Analistas, Asesores y Administradores del Mercado Financiero A.C. I M A 3
Address
Circuito Científicos No 22 Ciudad Satélite, Naucalpan de Juárez, Estado de México, C.P. 53100 México Tel. / Fax: + 52 55 539 371 57 Mobil + 52 55 46 18 68 13 Email: contacto@ima3.org
Contact
Mr Jesús Mejia Estevez Email: jmestevez@yahoo.com Email: Jmestevez24@hotmail.com Ms Maria H. Marmolejo Email: tensia@gmail.com
Website
www.ima3.org.mx
Established
July 2006
Chairman
Mr Martin Marmolejo González Email: mrmarmolejo@gmail.com
Organisational Structure
IMA3 is a non-profit professional organisation that gathers finance and investment professionals from all financial sectors; it maintains relationships with political, governmental, supervisory and educational institutions and organisations. Its primary objective is to develop a new generation of certified professionals in Mexico.
Major Activities
CIIA in Mexico
Mr Carlos A. Mejia Aguirre Secretary General Email: cmejia1950@yahoo.com.mx
To organise CIIA educational and qualification programmes with other educational institutions. To import and to promote training programs, examinations and certifications with international standards and specially, to promote and develop the program to obtain the CIIA certification in Mexico. To adapt the different international training programs to the needs of the distinct associations that are part of the national financial sector. To present proposals to the governmental authorities on self-regulation with international standards in benefit of the Mexican financial industry and derivations in the international financial markets. To centralize and make common efforts to develop programs and train professionals who hold a national certification to be able to pass international examinations (CIIA foundation and final examinations).
IMA3 is responsible of the management of CIIA program in Mexico. CIIA training program in Mexico will be organized by IMA3 with support of other Educational Institutions. Students who successfully complete the program and pass foundation examination will be awarded “International Expert on Financial Investments (Mexico-UE-Asia)” (Foundation Level approved by IEC) for then directly pass to Final Examination.
27
MOROCCO
Société Marocaine des Analystes Financiers SMAF Name
Société Marocaine des Analystes Financiers SMAF
Address
101 Boulevard Al Massira Al Khadra
20100 Casablanca Maroc
Email: smafmaroc@gmail.com Contact
ACIIA: Mr Ali Hachami Email: AHachami@cpm.co.ma
Website
www.smafmaroc.com
Established
2003
Chairman
Mr Ali Hachami
Organisational Structure
SMAF is a non-profit association that represents and promote the interests of investment professionals in Morocco in regard to training, professional ethics and transparency of information for the Moroccan capital market participants.
Objectives
The main objectives of the SMAF are: to enhance the dialogue between analysts and listed companies, and between listed companies and investors to ensure high quality standards of qualification and professionalism to promote the recognition of the profession to represent the profession vis-à-vis national and international authorities
CIIA in Morocco
SMAF is responsible for the training and management of the CIIA candidates in Morocco.
CIIA: Ms Meriem Bellahbib Secretary General Email: allouch.meriem@gmail.com
28
NETHERLANDS
VBA beleggingsprofessionals Name
VBA beleggingsprofessionals
Address
VBA Beleggingsprofessionals Gustav Mahlerplein 109-111 1082 MS Amsterdam The Netherlands Tel. +31 20 618 2812 Fax +31 20 618 2542 Email: secretariaat@nvba.nl
Contact
Mrs Irma Willemsen VBA Secretary General Email: secretariaat@nvba.nl
Website
www.nvba.nl
Established
1961
Chairman
Mr Alfred Slager
Organisational Structure
VBA is comprised of more than 1,200 members. It represents the interests of a wide range of professionals ranging from major banks and institutional investors to small stock-broking firms and private fund managers. As a professional association, the VBA has its own code of conduct for members, and also offers courses.
Objectives and Major Activities
They key objective of the VBA is to promote the quality and professionalism of investment analysts. By organising meetings, courses and seminars, publishing the “VBA Journaal” and the “Katernen” and providing the opportunity to participate in VBA committees, the association acts as a unique knowledge platform for its members. With regard to investment, the VBA strives for representation and transparency within government and supervisory organisations. In representing its members, the VBA participates in numerous discussion groups and maintains relations in the financial industry with political, governmental or supervisory organizations and institutions.
CIIA in the Netherlands
The VBA Netherlands has a national examination programme, the RBA, which is a master of science designation. The RBA programme is accredited by the ACIIA.
29
NIGERIA
Chartered Institute of Stockbrokers CIS Name
Chartered Institute of Stockbrokers CIS
Address
10th Floor, CSS Bookshop House 50 / 52 Broad Street Lagos, Nigeria Tel. +234 1 280 2180 to 5 Fax +234 1 280 2186 Email: info@cisnigeria.com
Contact
ACIIA: Mr Adedeji David Ajadi Email: adedeji.ajadi@cisnigeria.com
Website
www.cisnigeria.com
Established
1992
President
Mr Muritala A. Olushekun
Organisational Structure
CIS is a professional stockbroking institute chartered by an Act of the National Assembly of Nigeria and has membership strength of 1,952. The Institute is empowered to conduct qualifying examinations into the stockbroking profession, regulate the activities of the members of the profession and enforce professional discipline.
Major Activities
The main activities of CIS include: Promotion of global best practices and standards among members and enforcement of professional discipline Setting standards for the professional examinations of the stockbroking profession and conducting the stockbroking examinations Organisation of annual conferences, seminars, workshops and continued professional development programmes Publication of magazine and journals
CIIA in Nigeria
The Institute presented the first set of candidates for the CIIA Final examination in March 2010, and current has 4 CIIA Diploma Holders.
30
CIIA: Mr Adedeji David Ajadi Email: adedeji.ajadi@cisnigeria.com
PERU
Asociacion Peruana de Finanzas APEF Name
Asociación Peruana de Finanzas APEF
Address
Av. El Derby 055 Edificio Cronos, Torre 1, Piso 7 Monterrico, Santiago de Surco, Lima 33, Perú Tel. + 51 1 26 08 803 Fax: +51 1 71 62 601 Email: psalazar@apef.com.pe
Contact
Ms Patricia Salazar APEF Associate Coordinator Service Email: psalazar@apef.com.pe
Website
www.apef.com.pe
Established
November 2007
Chairman
Mr Alejandro Gomez Saba
Organisational Structure
Chairman: Alejandro Gómez Saba – alejandrogomez@apef.com.pe Secretariat: Segundo Capristan – segundo.capristan@apef.com.pe Treasurer: Félix Novoa – felix.novoa@gruposilvestre.com.pe Associate Coordinator Service: Patricia Salazar - psalazar@apef.com.pe
Major Activities
To promote, foment and stimulate the research and case studies in the financial area. To promote discussion through forums of financial subjects, identifying and analyzing the best practices of the specialty. To be a high quality source of consultation for our associates. To obtain a corporate, academic and social recognition in the specialization of finances. To have periodically, events of diffusion and training in finances at all level. To promote the collaboration between professionals in finances and all the professionals, experts and students interested in the techniques and methodologies of finances
31
POLAND
Polish Association of Brokers and Investment Advisers PABIA Name
Polish Association of Brokers and Investment Advisers PABIA
Address
Zwiazek Maklerow i Doradcow ul. Sienna 93 m. 2 00-815 Warszawa Poland
Tel. +48 226 283 743 Fax +48 226 283 743 Email: biuro@zmid.org.pl Contact
Ms Katarzyna Szymanska Email: biuro@zmid.org.pl
Website
www.zmid.org.pl
Established
1991, reformed in 1998 as a professional association
Chairwoman
Ms Grzegorz Letocha Email: g.letocha@zmid.org.pl
Organisational Structure
PABIA (in Polish: Zwiazek Maklerow i Doradcow - ZMiD) was created in 1991 by the Law on Public Trading in Securities. In January 1998 PABIA was transformed into a professional association, free and independent of any governmental body. However, as it associates the majority of brokers and investment advisers, PABIA is officially recognized by government. PABIA represents approximately 1600 brokers and investment advisers in PABIA. In Poland "investment adviser" has two main meanings: "financial analyst" and "portfolio manager"
Major Activities
PABIA’s main activities include: Organising preparatory courses for stock brokers exams and for investment advisers exams Administering PABIA's national examination programme (ACIIA accredited) for investment advisers Co-operation on preparation of Code of Good Practice, as a way of establishing good Corporate Governance rules
CIIA in Poland
CIIA is offered in Poland as a self-study course in English. The examinations are available in Polish and English
32
PORTUGAL
Associação Portuguesa de Analistas Financeiros APAF Name
Associação Portuguesa de Analistas Financeiros
Address
Rua da Estrela no. 8 1200-669, Lisbon Portugal Tel. +351 21 390 32 08 Fax: +351 213 903 209 Email: apaf@apaf.org.pt
Contact
Ms Sofia Nascimento Rodrigues APAF Secretary General
Website
www.apaf.org.pt
Established
1984
Chairman
Mr Raul Marques
Organisational Structure
APAF is a non-profit organisation and was founded in 1984. Its main purpose is to connect Financial Analysts in Portugal and to promote their international network by joining other countries through the European Federation. Currently APAF has 450 members.
Major Activities
APAF currently has a key role in the reinforcement of the qualification requirements in Portugal, maintaining open discussions on the Financial Analysis importance in the market, having achieved the recognition of our leadership in the area from market regulators (CMVM), mainly regarding all the new regulations for this activity.
CIIA in Portugal
To date 700 students have completed the CEFA program, and they will be the first potential candidates approached in the promotion of CIIA. The new regulation is an outstanding opportunity as it will boost the need for international diplomas.
33
ROMANIA
Romanian Association of Financial – Banking Analysts AAFBR Name
Romanian Association of Financial-Banking Analysts
Address
27 Ostasilor Street District 1, Bucharest, Romania ACIIA: Ms Rozalia Pal Email rozalia.pal@aafb.ro
Contact Website
www.aafb.ro
Established
2008
Chairman
Mr Adrian Codirlasu
Organisational Structure
Mr Adrian Codirlasu Chairman Mr Ionut Dumitru Vice-president Mr Adrian Mitroi Vice-president Mrs Rozalia Pal Vice-president Mr Florin Eugen Sinca Vice-president
Major Activities
Identifies the major problems specific for the activity of financial-banking analysts: evaluation and prognosis of economy and financial-banking system Professional development for its members through international certificates offered by EFFAS and ACIIA and specialised courses in collaboration with the Romanian Banking Institute Organise CIIA exams on the regular basis Organises conferences and elaborates research materials in financial and banking field and also regarding any regulatory norms whenever it considers necessary. Organise meetings on regular basis and keep contact with national insitutions like National Bank of Romania, Ministry of Finance and other institutions based on request/projects (like Chamber of Commerce, Embassies, Ministry of Economy, etc) Ensures and supports members participation in scientific activities/summer schools based on the Boards’ approval
34
RUSSIA
Guild of Investment and Financial Analysts GIFA Name
Guild of Investment and Financial Analysts GIFA
Address
Lesnaya str., 43, office 443 127055 Moscow, Russia Tel. +7 495 6621 207 Fax +7 495 6621 207 Email: info@gifa.ru
Contact
ACIIA: Ms Maria Semenova GIFA Executive director Email: info@gifa.ru
Website
www.gifa.ru
Established
1998
Chairwoman
Ms Maria Semenova
Organisational Structure
GIFA is a non-profit organisation of Russian investment professionals. Members of GIFA include sell-side and buy-side analysts, portfolio managers, corporate finance and financial statement analysts and M&A specialists.
Major Activities
Major activities of GIFA include: Development of national training and examination programmes for investment professionals Development and introduction in Russia of professional conduct’s norms for investment professionals Organization of conferences on the most important issues for investment and financial market Providing professional information to managers and analysts of financial institutions and corporations Networking activities within Russia and with investment communities in other countries
CIIA in Russia
GIFA introduced the CIIA exams in Russia in 2002. GIFA organizes training seminars before each examination session that are held by professors of the leading Moscow and St-Petersburg universities and business-schools, authors of books on corporate finance and members of GIFA examination commission. Participants in the seminars get a chance to evaluate themselves in a trial written exam before the actual CIIA examinations.
CIIA: Ms Svetlana Zemitan GIFA Managing Director Email: chernikova@gifa.ru
35
SPAIN
Instituto Español de Analistas Financieros IEAF Name
Instituto Español de Analistas Financieros IEAF
Address
Avda. de Brasil, 17-3º A y B 28020 Madrid Tel. +34 91 563 19 72 Fax +34 91 563 25 75 Email: sonia.lopez@fef.es ( Ms Sonia Lopez )
Contact
CIIA: Dr Jesús López Zaballos EFFAS Chairman, General Manager Training & Qualification School Email: lopez.zaballos@fef.es
Website
www.ieaf.es www.fef.es
Established
1965
Chairman
Mr Juan Carlos Ureta Email: secretaria@ieaf.es
Organisational Structure
IEAF is made up of over 1,400 members from investment institutions, banks and saving banks, asset management companies, insurance companies, investment counselling businesses, and also financial managers of leading Spanish companies. Professors, academics and legal experts, whose activities are linked to the financial sector, are also members.
Major Activities
Major activities of the IEAF include: A broad range of specialised training and qualification courses for national and international diplomas. Financial presentations of valued companies for the stock exchange markets in Madrid and Barcelona, as well as the presentation of Spanish companies in other European Stock Markets and the organization of presentations of foreign companies in Spain. Working Sessions to gather key members of the civil service and analysts together to discuss current issues relevant to the investment profession. Seminars and courses relevant to the investment profession Publication of academic works and the magazine 'Análisis Financiero'
CIIA in Spain
CIIA courses in Spain are organised by the IEAF Training School. The classroom-style lessons are led by academics and practitioners and are given in Barcelona, Madrid, Andorra and Valencia. We also offer distance courses through our e-learning platform.
36
SWEDEN
Sveriges Finansanalytikers Fรถrening SFF Name
Sveriges Finansanalytikers Fรถrening SFF
Address
Box 5216 S-10245 Stockholm Sweden Tel. +46 708 11 34 75 Email: kansliet@finansanalytiker.se
Contact
Mr Nils Liliedahl SFF Secretary General Email: nils@finansanalytiker.se
Website
www.finansanalytiker.se
Established
1970
Chairman
Mr Olof Neiglick Email: olof.neiglick@seb.se
Organisational Structure
SFF embodies professionals active in the sphere of qualified financial analysis within Sweden. Our members to date are approaching 1200, the majority of which are financial analysts, fund managers, Investor Relations managers and journalists.
Major Activities
SFF arranges meetings and seminars on a regular basis, where corporate presidents, scientists, politicians etc. are invited to talk. Our lunch meetings are regarded as unique opportunities to address a vast majority of professionals within the financial community, investors, fund managers, analysts, journalists and Investor Relations managers at one and the same time. SFF also arranges shorter half-day specialized educations in specific areas such as ESG, corporate bonds, accounting etc.
CIIA in Sweden
Training for CIIA is organised by the Stockholm School of Economics in Stockholm in cooperation with SFF.
37
SWITZERLAND
Swiss Financial Analysts Association SFAA Name
Swiss Financial Analysts Association SFAA
Address
Feldstrasse 80 8180 Buelach; Switzerland Tel. +41 44 872 35 40 Fax +41 44 872 35 32 Email: info@sfaa.ch
Contact
ACIIA: Dr Jean-Claude Dufournet SFAA Chief Executive Officer Email: dufournet@sfaa.ch
Website
www.sfaa.ch
Established
1962
Chairman
Dr Giuseppe Benelli
Organisational Structure
The SFAA is a non-profit organisation registered in Switzerland. Its membership currently comprises over 2’700 investment professionals such as sell-side and buy-side analysts, portfolio/asset/wealth managers, financial market operators, etc.
Major Activities
SFAA supports and promotes the professions of financial analysis and investment management through: monitoring professional quality and ethical conduct the provision of high quality vocational training the representation of the professions vis-à-vis the authorities and the media international networking with related organisations on-going contact with the leading finance education institutions, universities and technical colleges in Switzerland
CIIA: Mr Grégoire Coppey AZEK Chief Operating Officer Email: coppey@azek.ch
CIIA in Switzerland Training for the CIIA is organised by the SFAA owned training centre AZEK. The courses are offered in Zurich (in German), Geneva (in French) and Lugano (in Italian via an external institute) and the examinations are available in English, German, French and Italian. The CIIA training is offered as a one-year course with 250 hours of lectures taking place between February and December. Non-compulsory refresher courses are also offered in mathematics (30 hours) and accounting (12 hours). CIIA graduates are employed at all major Swiss banks and investment institutions.
38
TUNISIA
Tunisian Association of Financial Analysts ATAF Name
Tunisian Association of Financial Analysts ATAF
Address
19 bis Rue Kamel Ataturk 1001 Tunis Tunisia Tel. +216 71 845 518 Fax +216 71 847 312 Email: ataf.bureau@gmail.com
Contact
ACIIA: Mr Lotfi Shili Email: lotfi.shili@axiscapital.com.tn
Website
Under construction
Established
February 2008
Chairman
Mr FĂŠrid Ben Brahim
Organisational Structure
Vice president: Mr Fehmi Ben Naamane General secretary: Mr Shems Kaouech Assistant general secretary: Mrs Rym Gargouri Treasurer: Mrs Olfa Taamallah Assistant treasurer: Mr Lotfi Shili
Major Activities
ATAF’s activities include the organisation of conferences on specific issues mainly with foreign speakers in order to increase the practice of international standards in the Tunisian financial place. ATAF manages the organisation of the CIIA courses and examinations in Tunisia In the short term ATAF hope for elaboration of recommendations to promote the best practices of financial analysis, elaboration of a market consensus in terms of forecasts, market premium, and finally help and advise the listed companies on how to improve their financial communication. In the medium term, create a Financial Analysis Review.
39
UKRAINE
Ukrainian Society of Financial Analysts USFA Name
Ukrainian Society of Financial Analysts USFA
Address
Mail to: P/O Box 328, Kiev-1, 01001 Office address: Bereznyakivska 38-b, Kiev, Ukraine Tel. +38 044 206 07 20 Fax +38 044 587 64 15 Email: usfa@kimi.edu.ua
Contact
ACIIA: Mr Viktor Tyrkalo National Secretary of USFA Email: kyyanko@kimi.edu.ua
Website
www.usfa.org.ua
Established
1995
President
Mr Yuriy Prozorov Email: supervisor@dagda.com.ua
Organisational Structure
USFA is a common platform that facilitates interaction and cooperation between financial and investment analysts from various regions of Ukraine and their contacts with international colleagues. USFA currently gathers more than 90 members, all investment professionals that work in banks, investment and insurance companies, stock exchanges, pension funds, consulting, audit and law firms, real sector enterprises, academic and government institutions. USFA aims to represent and advocate the interests of its members, implement the systems for analysts’ professional growth, promote the development of the financial sector and establish professional contacts between market participants.
Objectives
USFA’s activities include organization of conferences, forums, seminars and round tables, research, and participation in various financial sector institutions – both governmental and non-governmental. USFA takes an active part in various advisory boards, commissions, working groups and other structures working under the umbrella of different government institutions of Ukraine. USFA participates in the creation and implementation of professional training and certification of financial and investment analysts, in standardization of their professional activity and promotion of relevant international ethical norms.
CIIA in Ukraine
Training for the CIIA is organised by Kyiv Business School of Kyiv Institute of Investment Management. The course runs from December to May and consists of 9 modules (36 hrs each) to prepare for the foundation, final and national examinations. In addition, a special practical training session – 6 modules (24 hrs each) is held before each examination.
CIIA: Mr Viktor Tyrkalo National Secretary of USFA Email: kyyanko@kimi.edu.ua
40
UNITED KINGDOM
Chartered Institute for Securities & Investment CISI Name Address
Contact
Chartered Institute for Securities & Investment 8 Eastcheap London EC3M 1AE Great Britain Tel.+44 20 7645 0600 Fax: +44 20 7645 0601 Email: sian.lloyd@cisi.org ACIIA: Ms Sian Lloyd Email: sian.lloyd@cisi.org
CIIA: Ms Sian Lloyd Email: sian.lloyd@cisi.org
Website Established Chairman Organisational Structure
www.cisi.org 1992 Mr Alan Yarrow The Chartered Institute for Securities & Investment is the largest and most widely respected professional body for those who work in the securities and investment industry in the UK and in a growing number of major financial centres round the world. The CISI is a charitable foundation which has been dedicated to professionalism since it emerged from the London Stock Exchange almost 20 years ago. The award of a Royal Charter by Her Majesty the Queen is an acknowledgement of the Institute’s work in bringing a greater measure of professionalism to the financial services industry, encompassing both skills and ethical behaviour. We have more than 40,000 individual members in 89 countries. Over 75 firms are Corporate Supporters, having selected the CISI as their key provider of qualifications and professional development support.
Major Activities
• Leading provider of Certificate, Advanced Certificate, Diploma and Postgraduate qualifications for Retail, Institutional, Wealth Management and Operational activities • High practitioner and industry involvement in developing our qualifications • Collaborative and proactive engagement with regulators, trade bodies, financial services firms, academic institutions and expert advisers • Wide network of Accredited Training Providers and examination venues • Sophisticated member support including e-learning, revision tools, industry updates and presentations via the CISI App, CISI TV and CISI website • Wide range of events, conferences and professional interest groups offering excellent networking opportunities for all member • Innovative provider of Investment Education in UK Schools, Colleges and Universities
CIIA in the UK
The CISI’s mission is to help members attain, maintain and develop their knowledge and skills and to promote the highest standards of ethics and integrity in the securities and investment industry. With representative offices in financial centres such as Dublin, Singapore, Dubai, Mumbai and Colombo the CISI works in close cooperation with regulators, firms and other professional bodies worldwide.
41
VIETNAM
Securities Research and Training Center SRTC Name
Securities Research and Training Center, State Securities Commission of Vietnam
Address
No. 234 Luong The Vinh Tu Liem, Hanoi Vietnam Tel. +84 4 3553 5872 Fax: +84 4 3553 5869 Email: huongnguyen74@ssc.gov.vn
Contact
Mrs Tran Nu Hanh Senior Vice Director of SRTC Email: hanh_ssc2003@yahoo.com
Website
www.srtc.org.vn
Established
Mrs Nguyen Thi Thanh Huong Head of Research Division Email: hanavietnam@gmail.com
December 1997
Chairman
Mr Hoang Manh Hung (Acting Director) E-mail: manhhung@ssc.gov.vn
Organisational Structure
SRTC is a government approved organisation, directly under the State Securities Commission of Vietnam, with an aim to promote the research and training activities in the securities field in Vietnam. SRTC has its own legal status, with its Head Office in Hanoi and a branch in Ho Chi Minh City.
Major Activities
CIIA in Vietnam
Major activities of SRTC include: Design and organize high quality training courses for professionals in the securities industry. Organize licensing examinations (for securities professionals) under the authorization of State Securities Commission of Vietnam. Carry out the corporate governance training courses and investor education programs. Organize conferences and seminars for regulators and local practitioners in the securities field. Carry research papers on macroeconomic and financial / securities market specific issues. Promote the CIIA designation in Vietnam. CIIA examinations have been carried by SRTC since 2009 under the project funded by Swiss State Secretariat for Economic Affairs (SECO) to SSC of Vietnam. The first 2 CIIA certificates obtained in 2010. SRTC joined ACIIA in June 2012 and will promote the CIIA designation in Vietnam with the review course of 14 days (total of 84 hours) for CIIA candidates. The review course covers seven subjects on which CIIA exam questions are based.
42